Digital media spread hatred, Centre tells SC

The government suggests that web-based digital media should be regulated.Calling it parallel media, the Centre says web portals use spectrum or radio airwaves and internet which are public property.

Former Cognizant CEO D’Souza setting up $1 billion PE Fund

D’Souza’s fund raise comes at a time when private equity dealmaking has slowed down on account of the Covid-19 pandemic. D’Souza will also be an investor in the fund. US compensation research firm Equilar estimates that D’Souza realised $191.4 million in total compensation during his tenure as CEO from 2007, a majority of that in the form of stocks and options.

Tiger Global moves Delhi High Court against Flipkart tax ruling

The PE investor had claimed nil withholding tax on the capital gains made from the 2018 sale of its Flipkart stake to Walmart. There is enough substance and decision making in the deal structure to get India-Mauritius treaty benefits. The AAR has not gone into all the aspects of the deal before it denied treaty benefits to Tiger Global,” said a person with direct knowledge of the matter

Govt lens on fintech cos with China links

App-based lenders likely to be added to a list of banned entities being compiled by the Union government.The potential implications of a data compromise from fintechs such as lending apps are quite grave, since it involves sharing sensitive financial data of the user to the lender.

Irdai permits insurers to conduct video-based KYC

Regulator Irdai on Monday permitted life and general insurers to conduct KYC of prospective customers through Video Based Identification Process (VBIP), a move that will help company officials to complete mandatory requirement online during the pandemic. The objective of the VIBP, Insurance Regulatory and Development Authority of India (Irdai) said, is to leverage various electronic platforms to simplify know your customer (KYC) process and make it customer-friendly. Insurers may undertake live VBIP by developing an application, which will facilitate the KYC process either online or face-to-face.